Barclays Cuts Eastman Chemical (NYSE:EMN) Price Target to $108.00

Eastman Chemical (NYSE:EMN) had its price target reduced by investment analysts at Barclays from $111.00 to $108.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s target price would indicate a potential upside of 7.40% from the stock’s current price.

EMN has been the topic of a number of other reports. Mizuho upped their price target on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. UBS Group dropped their target price on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. KeyCorp boosted their price target on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average price target of $112.85.

Eastman Chemical Stock Up 0.9 %

NYSE EMN traded up $0.91 during trading on Monday, reaching $100.56. 1,037,840 shares of the company’s stock were exchanged, compared to its average volume of 1,126,394. The firm has a market capitalization of $11.66 billion, a PE ratio of 13.08, a P/E/G ratio of 0.73 and a beta of 1.44. Eastman Chemical has a fifty-two week low of $80.89 and a fifty-two week high of $114.50. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The company’s fifty day simple moving average is $94.80 and its 200-day simple moving average is $100.02.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. Sell-side analysts predict that Eastman Chemical will post 8.46 EPS for the current year.

Insider Activity

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at $466,013.52. This represents a 50.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares in the company, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,021 shares of company stock valued at $1,895,948. 2.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Eastman Chemical

A number of institutional investors have recently added to or reduced their stakes in EMN. Crews Bank & Trust acquired a new position in Eastman Chemical in the 4th quarter valued at approximately $27,000. Wolff Wiese Magana LLC raised its stake in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Dunhill Financial LLC lifted its position in Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the period. Stonebridge Financial Group LLC bought a new position in Eastman Chemical in the fourth quarter worth $37,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical during the third quarter worth $38,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.